According to data compiled by Mordor Intelligence, the global medical cannabis market is projected to grow at a CAGR of 17.2% during the forecasted period of 2018-2023.
| NEW YORK, /PRNewswire/ -- According to data compiled by Mordor Intelligence, the global medical cannabis market is projected to grow at a CAGR of 17.2% during the forecasted period of 2018-2023. The market is being pushed by the growing number of countries legalizing medical cannabis usage. Predominantly, medical cannabis is used to treat illnesses and medical conditions such as chronic pains, cancer, arthritis and many others. Various countries have already legalized the use of medical cannabis such as Canada, Chile, Germany, Italy and Mexico to name a few. Meanwhile, the U.S. has not entirely legalized medical cannabis, but it still contributes the majority of market share in this segment. The U.S. alone contributed about 90% of the overall global cannabis market in 2017 despite the fact that only 30 states and the District of Columbia have legalized medical usage. Orion Nutraceuticals Inc. (CSE: ORI), Emerald Health Therapeutics, Inc. (OTC: EMHTF), Zynerba Pharmaceuticals, Inc. (NASDAQ: ZYNE), Invictus MD Strategies Corp. (OTC: IVITF), Auxly Cannabis Group Inc. (OTC: CBWTF) Research and development are still undergoing within the U.S. and many other countries as they are still exploring opportunities within the market. The University of Mexico conducted two recent studies to research cannabis for medical usage. The studies are analyzing data of cannabis consumption and the effects through an app and has over 100,000 recorded users. “If the results found in our studies can be extrapolated to the general population, cannabis could systematically replace multi-billion dollar medication industries around the world. It is likely already beginning to do so,” said Jacob Vigil, UNM Department of Psychology Associate Professor. Orion Nutraceuticals Inc. (CSE: ORI) is currently listed on the Canadian Securities Exchange under the ticker (CSE: ORI). Earlier this week the company announced, “the addition of Matthew Bennett, President and Founder of Bennett’s Choice, to its advisory board. Matthew Bennett is a leader in improving recovery from concussions and preventing neurological disease. He has successfully pitched on Dragons’ Den and partnered with world renowned coaches to promote the importance of nourishing the brain by way of his patented formulations. His rehabilitation and performance medicine background has allowed him to heal the lives of professional athletes across all major sport leagues, actors, actresses and singers. Matthew will share his natural medicine-based experience to boost Orion contracts with professional athletes, teams and academies by promotion of the positive effects of Orion products. Matthew will work to establish easy and accessible ways to help the athletes sleep and recovery which empowers their performance and life for optimal active pain-free living. “We are excited to announce Matthew Bennett as the first member of Orion Nutraceutical’s advisory board,” said Jonathan Fiteni, CEO of Orion. “His in-depth work in the field of sports therapy and health and wellness issues will prove to be invaluable in developing new products, connecting Orion with sports professionals and furthering our stated goal of becoming a global presence in the world of sports medicine”. Matthew developed his company with the vision of being able to provide an affordable relief aid to those suffering from injury. Utilizing the principles of medicine, the company began to come into fruition as research showcased the efficacy of nourishing the brain. Matthew embraces the resilience, tenacity, persistence and pride he developed during his professional development. He has helped heal those suffering from countless physical injury, emotional trauma and dysfunctional performance. His unique experience is why the company has achieved great milestones and the global community to help recovery and nourish the brain and body for optimal performance. “While healing professional and amateur athletes for over a decade. I witnessed the impact of concussions on their family and career”, said Matthew Bennett, President and Founder of Bennett’s Choice. “In joining the advisory board for Orion Nutraceuticals, I’m looking forward to bringing my wealth of experience in developing cannabis derived medicines, creating effective sports therapies and marketing these products to the world”. The Company also wishes to announce that it has granted incentive stock options to of the Company to Matthew Bennett for the right to purchase up to an aggregate of 150,000 common shares of the Company, exercisable at the price of $0.44 per share for two years. The effective date of the grant of option is November 13, 2018. The stock options granted will be in accordance with the Company’s Stock Option Plan and will have the required four months hold period legend, pursuant to the Policies of the CSE and regulatory authorities. About Orion Nutraceuticals Inc: Orion Nutraceuticals Inc. aims to set a new standard in cannabis life science by producing and developing innovative products with key strategic partners in the industry. In conjunction with its professional sports strategic alliances, the company is poised to advance research and development in the plant science sector, deliver science-based products and services, and market CBD therapies to the mainstream with proprietary brands and products. Medic-Oasis, Orion’s subsidiary, has submitted its application for an ACMPR license and is currently under review with Health Canada. Build out is expected to begin in Q1 2019, with completion of the 30,000 square foot facility expected by Q3 2019. Orion Nutraceuticals is partners with Colombian based medical cannabis corporation FCM Global. FCM supplies pharmaceutical, nutritional, wellness, and cosmetic companies in legal markets worldwide with customized medical cannabis extracts, oils, and isolates at commercial scale. Orion shares trade in Canada on the CSE under the symbol ORI.” Emerald Health Therapeutics, Inc. (OTCQX: EMHTF) is a Licensed Producer under Canada’s Access to Cannabis for Medical Purposes Regulations. Emerald Health Therapeutics, Inc. recently announced it has filed 17 provisional US patent applications covering Emerald’s unique Defined Dose™ cannabis dosage forms and formulations. Based on proprietary Emerald research, these patent applications are contributing to Emerald’s intellectual property portfolio and its intent to develop distinctive cannabis products for medical-use and improved adult-use. The products provide more precise and consistent delivery, dosage, and formulations. Defined Dose™ cannabis products will, when made available to the public, provide consumers with products currently not available. “We expect significant potential cannabis market growth by offering adult users and medical consumers consistent product characteristics, dosing regimens, and alternative methods of consumption, with safety enhanced through GMP-compliant production and enhanced product utility achieved through knowledge of science. Emerald’s filing of these patent applications is an important step,” said Chris Wagner, Chief Executive Officer of Emerald. “Our expanding research and development effort is focused on internal facilities and staff as well as forming key relationships with other cannabis research experts, such as our recently announced agreement with VivaCell Biotechnologies Espana.” Zynerba Pharmaceuticals, Inc. (NASDAQ: ZYNE) is the leader in pharmaceutically-produced transdermal cannabinoid therapies for rare and near-rare neuropsychiatric disorders. Zynerba Pharmaceuticals, Inc. recently reported a new open label clinical data in an oral presentation at the 16th NFXF (National Fragile X Foundation) International Fragile X Conference. In a podium presentation entitled, “Transdermal Cannabidiol (CBD) Gel for the Treatment of Fragile X Syndrome (FXS),” Liza A. Squires, M.D., Zynerba’s Chief Medical Officer, presented a new 12- and 38-week data describing significant and sustained improvements in behavioral symptoms with continued use of ZYN002 in children and adolescents with FXS. The presentation included data through 38 weeks of treatment with ZYN002 in the open label Phase 2 FAB-C (Treatment of Fragile X Syndrome Anxiety and Behavioral Challenges with CBD) trial. “These data are consistent and compelling, and suggest that ZYN002 may have a clinically meaningful and durable effect on the most common observable behaviors associated with childhood and adolescent Fragile X syndrome,” said Honey Heussler, FRACP, DM, Associate Professor, University of Queensland and Medical Director Child Development, Children’s Health Queensland, and lead investigator in the FAB-C study. “The goal of an ideal therapeutic intervention is to reduce the severity and impact of these core symptoms, and thus improve the child’s ability to engage with the world around them, including with their parents, caregivers, teachers and peers. It is very encouraging that measurable improvements in behaviors were observed in this study across a variety of instruments, whether validated for use by caregivers or physicians. I am delighted by these data; however, we need the results from the recently initiated CONNECT-FX study for confirmation. I look forward to participating in the continued development of ZYN002 for these children.” Invictus MD Strategies Corp. (OTCQX: IVITF) is a global cannabis company offering a selection of products under a wide range of lifestyle brands. Invictus MD Strategies Corp. recently announced that it has entered into a definitive agreement to acquire 100% (the “Acquisition”) of the issued and outstanding shares of a company (“Leaf Wise”) that operates medical clinics in Alberta. Leaf Wise employs a patient-first business model that features on-site physicians, educational guides and registration support in just four easy steps. With approximately 3,400 patients registered under Access to Cannabis for Medical Purposes Regulations (“ACMPR”), Leaf Wise will serve as a direct channel to Invictus owned Licensed Producers (“LPs”), fully licensed under ACMPR. “Over the past few months, we have experienced substantial growth in our medical distribution channels as more physicians and patients look to cannabis for treatment,” said Dan Kriznic, Chairman and Chief Executive Officer of Invictus. “As the industry evolves, we will continue to support research that helps to advance patient care and provide a forum to facilitate and monitor ongoing treatment.” Auxly Cannabis Group Inc. (OTCQX: CBWTF) is a collective of entrepreneurs with a passion for the cannabis industry past, present and future. Auxly Cannabis Group Inc. recently announced that it has entered into a share purchase agreement (the “Share Purchase Agreement”) with KGK Science Inc. (“KGK”) to acquire all of the issued and outstanding shares of KGK (the “KGK Shares”) for total consideration of USD 12,300,000 payable in cash and common shares of the Company. KGK is a leading health and wellness focused private contract research organization based in London, Ontario, and the Company expects to leverage KGK’s expertise and research abilities to further the Company’s product development efforts through collaboration with the Company’s wholly owned subsidiary, Dosecann Inc. (“Dosecann”). Hugo Alves, President of Auxly commented, “The addition of KGK to the Auxly platform adds a significant amount of depth to the company’s knowledge base and abilities in the creation of value added cannabis products backed by research and science. We believe KGK’s track record of success as a leading health and wellness focused contract research organization in North America is a testament to their ability to add a significant amount of value to Auxly’s midstream business segment. We look forward to working with the team at KGK and beginning observational and clinical studies and other research initiatives to support our product development efforts and medical supply channel execution.” Subscribe Now! Watch us report LIVE https://www.youtube.com/FinancialBuzzMedia Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/ About FinancialBuzz.com FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. 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Company Codes: OTC-BB:EMHTF, NASDAQ-NMS:ZYNE, OTC-BB:IVITF, OTC-BB:CBWTF |
